The opening of the Indonesia Economic Summit 2026 became a platform for President of the Islamic Chamber of Commerce and Development, Abdullah Saleh Kamel, to frame the global economy as being at a critical crossroads. He argued that accelerating geopolitical shifts and economic fragmentation have exposed deep structural and moral weaknesses in the existing international order. According to Kamel, power-based interests increasingly dominate global decision-making, sidelining justice, development, and human values. This trajectory, he warned, has intensified inequality and undermined trust in the global system.
Kamel assessed that the current global economic framework has failed to deliver sustainable growth or equitable opportunities. He linked this failure to the growing separation between economic policymaking and ethical considerations. In major international forums, he observed, economic discourse no longer inspires confidence and instead reflects weakened regulation and eroding justice. Profit maximization and hegemonic logic, he noted, have taken precedence over social welfare and environmental sustainability.
The President of the Federation of Saudi Chambers stressed that these conditions impose a particular responsibility on business leaders in the Global South. He called for a new economic framework based on rights and obligations rather than narrow profit-and-loss calculations. Kamel maintained that sustainable economic systems cannot function without a moral foundation that aligns investment, trade, and finance with societal welfare. Detaching economics from values, he argued, has contributed to social fragmentation and environmental damage.
Turning to solutions, Kamel highlighted the role of the private sector in driving development through effective public–private partnerships. He emphasized that such a role requires political commitment, enabling legislation, and strong institutions capable of translating vision into measurable outcomes. As an example, he pointed to the reforms under Saudi Vision 2030, describing them as a practical model for redefining the relationship between the state and the economy. In this context, the Indonesia Economic Summit 2026 was presented as a timely forum to rethink growth models, strengthen cooperation, and restore balance between markets, policy, and values.
Alexander Jason – Redaksi
